Many companies put all of their focus on cost reduction when cash flow gets tight. Cost reduction is a cost correction measure where a company reviews past spending and obligations to decide which expenditures can be eliminated to improve the company’s cash position. Cost optimization, on the other hand, includes cost reduction to eradicate unnecessary spending, but puts much more emphasis on forward looking, strategic efforts that drive positive change and focuses your company’s spending in the right places to maximize profitability.
I know that the biggest driver of scalable, sustainable, cost control is to strategically design service delivery models to maximize margins. Not only that, but world-class organizations use continuous improvement programs, business process outsourcers, and shared service centers to enable sustainable cost management. We are experienced in developing and implementing these programs.
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